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My Simple System (Can we automate this system?)

  • #61
  • May 6, 2015 6:42am May 6, 2015 6:42am
Quoting osfx
Hi Arya, I think, this system has some potential and I'm currently working on a semi-automated EA to trigger and manage the trades. Please help me with two points, that aren't yet clear to me: Do you accumulate trades ? That means: do you open another trade on a new signal, if there ist already an open trade in the same direction ? Stop loss: in your first post, you mentioned, that SL is the PSAR, and the SL moves along with the PSAR. However, in your recent post (limit order on EU), you set the SL right beyond the trigger candle. How do you manage...
Totally forgot to tell you guys that the stop loss is the high or low of the bar that triggered the entry. I personally don't accumulate trades, once I'm in the market, I let it float. I'm thinking about adding a new rule to the system, once we hit 50% of our TP, we adjust our stop loss to break even.

The Take Profit equal or more then the stop loss. So, that last trade, our stop loss is at 7 pips. We hit +5 so that trade would've break even
  • #62
  • May 6, 2015 7:22am May 6, 2015 7:22am
In post #1 you had said the stop loss was the PSAR...
You are in a maze of twisty little passages, all alike.
  • #63
  • May 6, 2015 7:35am May 6, 2015 7:35am
Quoting stevegee58
In post #1 you had said the stop loss was the PSAR...
The system is always adjusted. I always look at ways to gain advantage from the market. PSAR and profit target was rarely hit.
  • #64
  • May 7, 2015 3:42am May 7, 2015 3:42am
So always the H/L of the entry bar? Not the H/L of the signal bar or the H/L of the bar after the signal bar with a higher/lower H/L?

You could see if trailing with the H/L of HA bar in direction of trade would work. So if your short you move your stop @ new closed bear HA bar high.

Also, you could take the profit/loss and close the trade when a opposite SAR or a new signal appears/triggers.
  • #65
  • May 10, 2015 8:26pm May 10, 2015 8:26pm
Anusragger, I prefer to Exit as you have suggested, especially when using HAs.
  • #66
  • May 11, 2015 6:44am May 11, 2015 6:44am
Looks good. I will keep follow.
  • #67
  • May 14, 2015 8:50am May 14, 2015 8:50am
Arya, your initial SL is the PSAR. Do you ever trail your SL as Anusragger has suggested?
  • #68
  • May 14, 2015 8:51am May 14, 2015 8:51am
Arya, what have your results looked like since your first post here?
  • #69
  • May 19, 2015 1:51am May 19, 2015 1:51am
Can we also enter a trade by placing a buy/sell stop at the opposite of the psar eg. sell stop at green psar and buy stop at red psar? I see this as a good way to catch the price when trend reverses. We can use this to hold our trades as well, hence increasing profits and cutting losses. When price goes sideways, we can exit with minimised loss or even Breakeven (BE). I attached a pic as example. I'm not sure how to post the pic up straight on the screen. Hope this works..
Attached Image (click to enlarge)
Click to Enlarge Name: MI001.png Size: 92 KB
  • #70
  • May 20, 2015 7:55am May 20, 2015 7:55am
Valerie, who is to say you can't? Try it--see what happens. Please let the rest of us know what your experience is with it. You will have more trades and you will have more Losses, but you may experience more profit. The beauty of Arya's method is the filtering effect of having both the PSAR (or Advanced Parabolic) and the Heiken Ashi in agreement--that eliminates a lot of trades that go nowhere or worse.
  • #71
  • May 24, 2015 2:25am May 24, 2015 2:25am
Hi Arya,
Very nice system, I've done a quick bit of backtesting on GBPUSD for the past few days, and the results look very promising...
I wanted to ask if in the end you had much success trading your system on Renko charts (versus candle charts)? Thanks...
  • #72
  • May 24, 2015 2:50am May 24, 2015 2:50am
AUDUSD Renko, for example, looks very interesting! Especially if we have a trailing stop, instead of a fixed take profit... What do other people think of this?
Attached Image (click to enlarge)
Click to Enlarge Name: HA_Renko.PNG Size: 50 KB
  • #73
  • May 24, 2015 2:57am May 24, 2015 2:57am
Quoting ytrader07
AUDUSD Renko, for example, looks very interesting! Especially if we have a trailing stop, instead of a fixed take profit... What do other people think of this? {image}
Lol, if you didn't go to sleep, that's roughly 280 pips (give or take) in less than three days! Wow!
  • #74
  • May 24, 2015 4:17am May 24, 2015 4:17am
hi Ytrader07
would you please tell which Renko setting are you using ?
Thanks in Advanced
and Thankyou Arya for share your trade way.
  • #75
  • May 24, 2015 4:37am May 24, 2015 4:37am
Quoting arya.aryaee
hi Ytrader07 would you please tell which Renko setting are you using ? Thanks in Advanced and Thankyou Arya for share your trade way.
Hi, just the default settings off any renko creator, 10 pips/renko box
Attached Image
  • #76
  • May 24, 2015 5:34am May 24, 2015 5:34am
Also experimenting with 5pip renkos now... Will keep you guys posted if i find anything solid....
  • #77
  • May 24, 2015 7:44am May 24, 2015 7:44am
So I tested a 'renko-optimised' version of Arya's strategy on EURUSD Renko, 5pip settings, and slightly adjusted Parabolic SAR settings; the results are ok i guess, most of your time you will just battle a ranging market, but losses from these will be covered by large trends. Not counting in sleep, it should get you around ~250-280 pips a week (at least on EURUSD...). I can do a brief write up of the rules if anyone's interested.
  • #78
  • May 24, 2015 8:11am May 24, 2015 8:11am
Quoting ytrader07
So I tested a 'renko-optimised' version of Arya's strategy on EURUSD Renko, 5pip settings, and slightly adjusted Parabolic SAR settings; the results are ok i guess, most of your time you will just battle a ranging market, but losses from these will be covered by large trends. Not counting in sleep, it should get you around ~250-280 pips a week (at least on EURUSD...). I can do a brief write up of the rules if anyone's interested.
I'd be interested in reading that cheers
  • #79
  • May 24, 2015 8:56am May 24, 2015 8:56am
First and foremost, all credit for the original system goes to Arya323.

1. Create a 5pip/candle Renko chart for your desired currency pair. IT IS VERY IMPORTANT that you select Show Wicks in the renko creator EA settings, otherwise the Heiken Ashi will be useless. (If people reading this dont have the renko EA thats been posted around forex factory quite a few times now, I attach it together with its manual in this post).

2. Change the original Parabolic SAR Step settings to 0.01. (Already done in the template attached).

3. TRADING RULES: To go long, first make sure that the Parabolic SAR is showing an upwards trend, i.e. the symbol of the indicator is underneath the second last bar in the chart. Second, wait for two white HA candles to draw, and enter immediately as the second white renko candle closes.

4. Only trade with the PSAR trend only go long if the trend is up, only go short if the trend is down.

5. Take Profit after the close of the first red HA candle to draw, after entering your trade. During my testing, I used a StopLoss of 10 pips (i.e. two renko candles); - you can use your own if you want.

6. Vice-versa entry for Short orders...

I also enclose a brief screenshot diagram and an EA settings screenshot to try and make things a little bit clearer...

Wishing you all profit,
ytrader07
Attached Image (click to enlarge)
Click to Enlarge Name: 5minHAexample.PNG Size: 62 KB
Attached Image
Attached File(s)
File Type: pdf RENKO basics and setting up the charts.pdf   74 KB | 1,172 downloads
File Type: ex4 RenkoLiveChart_v3.2.ex4   19 KB | 551 downloads
File Type: tpl harenko.tpl   2 KB | 540 downloads
  • #80
  • May 24, 2015 8:57am May 24, 2015 8:57am
Quoting yorkshirelad
{quote} I'd be interested in reading that cheers
Done.
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